Ethereum PoA algorithm introduced on Azure
Azure, the cloud platform created by Microsoft has introduced a proof-of authority (PoA) algorithm that will facilitate a more efficient way of designing and executing decentralised applications (DApps) for use in private or consortium networks.
The new algorithm will function in a network where all consensus participants are both known and reputable and it will work as a direct contrast to the current proof-of-work (PoW) protocol that is being used. The new principle is based on approved identities and validators and does not require any form of competition in completing any of the transactions.
The new feature, powered by Ethereum will utilise a number of features that will ensure the correct functioning and security of the platform. These will include an identity leasing system, web-assembly support, Azure Monitor and a Governance DApp.
The web-assembly support will be powered by Partiy and will drastically simplify the process of designing and building smart contracts. This enables customers to create them in programming languages that they are familiar with, rather than the Solidity language that is used on the Ethereum blockchain. The new system will allow programmers to write in C, C++ and Rust.
Through the new Governance DApp solution, processes such as voting, validator delegation, and participation in consortiums can also be simplified. This feature will also allow customers to enjoy a certain level of abstraction which will also allow them to privatise all relevant data about an object in order to boost efficiency.
The launch of the Ethereum-based Azure cloud computing platform was first announced back in late 2015, whilst the original platform was founded in 2010. Azure now provides global networks managed by Microsoft data centres that develop, test, deploy, and manage a range of applications and services.
Back in June, the R3 blockchain consortium made an announcement that they along with 39 international financial companies had tested a new KYC application that runs 45 nodes over Microsoft Azure.